Salesforce, Inc. (NYSE:CRM) Shares Sold by Berkshire Bank

Berkshire Bank cut its stake in Salesforce, Inc. (NYSE:CRM) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,235 shares of the CRM provider’s stock after selling 162 shares during the quarter. Berkshire Bank’s holdings in Salesforce were worth $2,419,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Magnolia Capital Advisors LLC raised its position in shares of Salesforce by 10.9% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 4,351 shares of the CRM provider’s stock valued at $1,119,000 after buying an additional 426 shares during the period. Silver Lake Advisory LLC acquired a new position in shares of Salesforce in the 2nd quarter valued at $273,000. Invst LLC grew its holdings in shares of Salesforce by 9.8% during the 2nd quarter. Invst LLC now owns 16,318 shares of the CRM provider’s stock worth $4,181,000 after purchasing an additional 1,455 shares during the period. Ecofi Investissements SA acquired a new stake in shares of Salesforce during the 2nd quarter worth about $964,000. Finally, Connective Capital Management LLC purchased a new stake in Salesforce in the 2nd quarter valued at about $1,278,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 4.0 %

Shares of Salesforce stock opened at $347.26 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $332.33 billion, a P/E ratio of 57.12, a PEG ratio of 3.01 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company’s fifty day moving average is $336.73 and its two-hundred day moving average is $294.60.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.62 EPS. Analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.46%. Salesforce’s payout ratio is currently 26.32%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CRM. Barclays lifted their price target on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Needham & Company LLC lifted their target price on shares of Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Wedbush restated an “outperform” rating and set a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Canaccord Genuity Group lifted their price objective on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus increased their target price on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Insider Transactions at Salesforce

In other Salesforce news, COO Brian Millham sold 708 shares of Salesforce stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $235,254.24. Following the sale, the chief operating officer now owns 1,239 shares of the company’s stock, valued at approximately $411,694.92. The trade was a 36.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $290.23, for a total value of $145,115.00. Following the transaction, the chief accounting officer now directly owns 6,506 shares of the company’s stock, valued at approximately $1,888,236.38. This trade represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,109,169 shares of company stock worth $383,432,020. Company insiders own 3.20% of the company’s stock.

Salesforce Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.